Virgin Money (Northern Rock)

itsj2

Opened the new Saver Account @2.85% G when VM launched these a few months ago. The rate is this week advertised at 2.60% for "Issue 2" ? How does this work? Do people like me with the original account still get the 2.85% rate and, if so, can we still add to it? Or is it the case that existing account holders have to open an Issue 2 account if they want to make an additional deposit? Grateful if someone could enlighten me, please.

evenasus

I take it that you opened this one... http://www.northernrock.co.uk/savings/PDF/E_Saver_Issue_7-key_product_info.pdf

In which case, your rate will most likely have dropped, as it was variable.

When it was Northern Rock, I know you could open a new E Saver, then close your old account, as you transfer the funds to the new E Saver.

itsj2

Yes, that's the one - thanks. Would be good if someone could clarify my specific concerns from Post1.

alanq

Question already posed and there is some confusion.
https://forums.moneysavingexpert.com/discussion/3958659

evenasus

Bradford & Bingley worked the same way.
I had about 6 E Savers in total. Having to open and close the old one each time.

ILW

My rate has not dropped (issue 1)

itsj2

Good to see that Issue 1 of the Virgin Saver is still attracting 2.85% even though it is now closed to new customers.

Still not clear though whether holders of Issue 1 accounts can deposit additional funds in them.

2010

itsj2 wrote: »

Still not clear though whether holders of Issue 1 accounts can deposit additional funds in them.

The T&C haven`t changed, only the rates.
Add and withdraw without penalty.